Five Marketing Mistakes Every Manager
     Makes (and how to avoid making them)


                                                     Kevin Epstein
                                                     VP Marketing, Scalent Systems
                                                     Author, Marketing Made Easy

                                                     kevin@stupidmarketing.com


                                                        Please, interrupt me!


Copyright ยฉ 2004 VMware, Inc. All rights reserved.
About Me / โ€œHello Worldโ€
โ€ข Marketer, Author, Entrepreneur, Consultant
  โ€“ Built lawn-care, T-shirt, appliance sales business before
    finishing college and coming out to CA
  โ€“ Buy my book, or write your own (but read the contract first)

โ€ข Tech Geek
  โ€“ Love gadgets. Undergrad in Nuclear Physics.

โ€ข Bad at timing stock sales
  โ€“ Donโ€™t ask me when to buy or sell. Really.

โ€ข Good at Marketing?
  โ€“ Made lots of mistakes, learned from themโ€ฆ
  โ€“ You be the judge!
Shameless Self-Promotional Slideโ€ฆ

โ€ข Buy my book
 โ€“ Tonight, personalized
 โ€“ http://buynow.stupidmarketing.com
 โ€“ Chris Shipley (DEMO) recommends itโ€ฆ

โ€ข Take my Stanford course
 โ€“ Stanford Continuing Studies Dept.
 โ€“ 5 weeks, 1 night per week
 โ€“ Meet fun people, work in teams, network
 โ€“ http://continuingstudies.stanford.edu/cours
   e/department.asp#Business
Scalent Systems

โ€ข Enterprise Software Startup
 โ€“ Yes, masochistic.

โ€ข Dead, Bare Metal to Live, Connected
  Serversโ€ฆ in Five Minutes or Less!
 โ€“ Make any server-class machine run any
   software stack with any network IP and any
   storage connection, in boot-time

โ€ข You hadnโ€™t heard of VMware, either,
  5 years ago
 โ€“ Skate to where the puck is going to be...

   โ€ฆbut letโ€™s talk about Marketing!
Five Marketing Mistakes Every Manager Makes (and
                                 how to avoid โ€˜em)
โ€ข Betting On the Big Event
  โ€“ Gambling Instead Of Planning

โ€ข Depending on Others
  โ€“ Outsourcing the Wrong Things

โ€ข Marketing Nonexistent Product
  โ€“ Non-strategic Hype

โ€ข Failing to Measure
  โ€“ If you didnโ€™t measure it, it didnโ€™t exist

โ€ข Adding Complexity
  โ€“ Confused Prospects = Lost Sales
Mistake 1: Betting on the Big Event
                 Gambling instead of Planning

โ€ข Do the Math
  โ€“ Event profit = [# of potential leads] x
    [likelihood of making sale] x [size of
    sale] โ€“ [total costs of attending event]

โ€ข Equip Yourself
  โ€“ Be the customer โ€“ what do they
    expect?

โ€ข Shop Around
  โ€“ Are there better-ROI lead
    generators?
Mistake 2: Depending on Others
              Outsourcing the Wrong Things
โ€ข Check References
 โ€“ Reach the unhappy customers, the
   people they didnโ€™t list

โ€ข Communicate & Align
  Expectations
 โ€“ Write โ€˜em down, in detail
 โ€“ When project is done, what are the
   results?
 โ€“ What methods are OK to use? What
   arenโ€™t?

โ€ข Have a Backup Plan
 โ€“ What happens when the consultant
   doesnโ€™t?
Mistake 3: Marketing Nonexistent Product
                      Non-Strategic Hype
โ€ข Understand Customersโ€™
  Expectations, Value
 โ€“ What do they expect and value
   of your business?

โ€ข Sell What You Have
 โ€“ Spend time on your benefits;
   Listen for futures

โ€ข Use Hype Strategically
 โ€“ The โ€œvision thingโ€ has a
   purpose: stalling others or
   selling faster now
Mistake 4: Failing to Measure
   If you didnโ€™t measure it, it doesnโ€™t exist
โ€ข Understand what you want to
  measure (link to sales)
 โ€“ Keep metrics to the minimum needed
   to link marketing to sales

โ€ข Build Measurement In
 โ€“ Start at the beginning of your
   marketing programs. Phone
   extension, special email address, pre-
   printed response cards, etc

โ€ข Change one variable at a time
  (no more)
 โ€“ Change design or location or
   vehicleโ€ฆ (not and)
Mistake 5: Adding Complexity
             Confused Prospects = Lost Sales


โ€ข Say it Simply
  โ€“ Concise, explicit descriptions. Small words.

โ€ข Make it Simple to Do
  โ€“ Theyโ€™re the ones paying you. Let them.

โ€ข Donโ€™t ask too much of your
  customers
  โ€“ Balance value of marketing info against
    likelihood & value of sale
Summary

โ€ข Betting On the Big Event
  โ€“ Gambling Instead Of Planning

โ€ข Depending on Others
  โ€“ Outsourcing the Wrong Things

โ€ข Marketing Nonexistent Product
  โ€“ Non-strategic Hype

โ€ข Failing to Measure
  โ€“ If you didnโ€™t measure it, it didnโ€™t exist

โ€ข Adding Complexity
  โ€“ Confused Prospects = Lost Sales
Thanks / Q&A


If youโ€™re interested in more detail, please try my
  bookโ€ฆ
    Marketing Made Easy
    Entrepreneur Magazine Press / McGraw Hill
    Amazon, Entrepreneur.com, or Barnes & Noble
    (Personalized copies:
     http://buynow.stupidmarketing.com)

โ€ฆor sample my Blog, at
 http://blog.stupidmarketing.com

             Thanks for your time!

The 5 Big Marketing Mistakes

  • 1.
    Five Marketing MistakesEvery Manager Makes (and how to avoid making them) Kevin Epstein VP Marketing, Scalent Systems Author, Marketing Made Easy kevin@stupidmarketing.com Please, interrupt me! Copyright ยฉ 2004 VMware, Inc. All rights reserved.
  • 2.
    About Me /โ€œHello Worldโ€ โ€ข Marketer, Author, Entrepreneur, Consultant โ€“ Built lawn-care, T-shirt, appliance sales business before finishing college and coming out to CA โ€“ Buy my book, or write your own (but read the contract first) โ€ข Tech Geek โ€“ Love gadgets. Undergrad in Nuclear Physics. โ€ข Bad at timing stock sales โ€“ Donโ€™t ask me when to buy or sell. Really. โ€ข Good at Marketing? โ€“ Made lots of mistakes, learned from themโ€ฆ โ€“ You be the judge!
  • 3.
    Shameless Self-Promotional Slideโ€ฆ โ€ขBuy my book โ€“ Tonight, personalized โ€“ http://buynow.stupidmarketing.com โ€“ Chris Shipley (DEMO) recommends itโ€ฆ โ€ข Take my Stanford course โ€“ Stanford Continuing Studies Dept. โ€“ 5 weeks, 1 night per week โ€“ Meet fun people, work in teams, network โ€“ http://continuingstudies.stanford.edu/cours e/department.asp#Business
  • 4.
    Scalent Systems โ€ข EnterpriseSoftware Startup โ€“ Yes, masochistic. โ€ข Dead, Bare Metal to Live, Connected Serversโ€ฆ in Five Minutes or Less! โ€“ Make any server-class machine run any software stack with any network IP and any storage connection, in boot-time โ€ข You hadnโ€™t heard of VMware, either, 5 years ago โ€“ Skate to where the puck is going to be... โ€ฆbut letโ€™s talk about Marketing!
  • 5.
    Five Marketing MistakesEvery Manager Makes (and how to avoid โ€˜em) โ€ข Betting On the Big Event โ€“ Gambling Instead Of Planning โ€ข Depending on Others โ€“ Outsourcing the Wrong Things โ€ข Marketing Nonexistent Product โ€“ Non-strategic Hype โ€ข Failing to Measure โ€“ If you didnโ€™t measure it, it didnโ€™t exist โ€ข Adding Complexity โ€“ Confused Prospects = Lost Sales
  • 6.
    Mistake 1: Bettingon the Big Event Gambling instead of Planning โ€ข Do the Math โ€“ Event profit = [# of potential leads] x [likelihood of making sale] x [size of sale] โ€“ [total costs of attending event] โ€ข Equip Yourself โ€“ Be the customer โ€“ what do they expect? โ€ข Shop Around โ€“ Are there better-ROI lead generators?
  • 7.
    Mistake 2: Dependingon Others Outsourcing the Wrong Things โ€ข Check References โ€“ Reach the unhappy customers, the people they didnโ€™t list โ€ข Communicate & Align Expectations โ€“ Write โ€˜em down, in detail โ€“ When project is done, what are the results? โ€“ What methods are OK to use? What arenโ€™t? โ€ข Have a Backup Plan โ€“ What happens when the consultant doesnโ€™t?
  • 8.
    Mistake 3: MarketingNonexistent Product Non-Strategic Hype โ€ข Understand Customersโ€™ Expectations, Value โ€“ What do they expect and value of your business? โ€ข Sell What You Have โ€“ Spend time on your benefits; Listen for futures โ€ข Use Hype Strategically โ€“ The โ€œvision thingโ€ has a purpose: stalling others or selling faster now
  • 9.
    Mistake 4: Failingto Measure If you didnโ€™t measure it, it doesnโ€™t exist โ€ข Understand what you want to measure (link to sales) โ€“ Keep metrics to the minimum needed to link marketing to sales โ€ข Build Measurement In โ€“ Start at the beginning of your marketing programs. Phone extension, special email address, pre- printed response cards, etc โ€ข Change one variable at a time (no more) โ€“ Change design or location or vehicleโ€ฆ (not and)
  • 10.
    Mistake 5: AddingComplexity Confused Prospects = Lost Sales โ€ข Say it Simply โ€“ Concise, explicit descriptions. Small words. โ€ข Make it Simple to Do โ€“ Theyโ€™re the ones paying you. Let them. โ€ข Donโ€™t ask too much of your customers โ€“ Balance value of marketing info against likelihood & value of sale
  • 11.
    Summary โ€ข Betting Onthe Big Event โ€“ Gambling Instead Of Planning โ€ข Depending on Others โ€“ Outsourcing the Wrong Things โ€ข Marketing Nonexistent Product โ€“ Non-strategic Hype โ€ข Failing to Measure โ€“ If you didnโ€™t measure it, it didnโ€™t exist โ€ข Adding Complexity โ€“ Confused Prospects = Lost Sales
  • 12.
    Thanks / Q&A Ifyouโ€™re interested in more detail, please try my bookโ€ฆ Marketing Made Easy Entrepreneur Magazine Press / McGraw Hill Amazon, Entrepreneur.com, or Barnes & Noble (Personalized copies: http://buynow.stupidmarketing.com) โ€ฆor sample my Blog, at http://blog.stupidmarketing.com Thanks for your time!